The pace of Thailand’s economic recovery slackened last year, falling short of the official predictions, as disclosed by government spokesperson Chai Wacharonke. This could increase the likelihood of the central bank considering an early easing strategy.
Chai revealed today, January 23, that the Thai economy only expanded by 1.8% last year, a drop from the 2.6% growth experienced in 2022. He cited these estimates from the Finance Ministry’s Fiscal Policy Office (FPO), which are scheduled for official release tomorrow.
These figures fall significantly short of the Bank of Thailand’s (BoT) prediction of 3.6% growth, made earlier the previous year. The central bank had already revised its gross domestic product (GDP) growth estimate downwards to 2.4% in November, according to a statement Chai disclosed to reporters via the LINE mobile application.
The…
